Adani Total Gas' consolidated net profit soared 266.43% to Rs 142.58 crore on a 152.82% jump in revenue from operations to Rs 522.27 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).
Consolidated profit before tax surged 196.35% to Rs 185.46 crore in Q1 FY22 as against Rs 62.58 crore in Q1 FY21. The announcement was made after market hours yesterday, 4 August 2021.
On a standalone basis, sales volume grew 118% to 140 MMSCM (Million Metric Standard Cubic Meter) in Q1 June 2021 as compared to 64 MMSCM in Q1 June 2020. CNG sales climbed 180% to 68 MMSCM in Q1 FY22 as against 24 MMSCM in Q1 FY21. PNG sales galloped 80% to 72 MMSCM in Q1 June 2021 from 40 MMSCM in Q1 June 2020.
Adani Total Gas also intimated regarding its CNG stations increasing to 224, with commissioning of 7 new CNG stations. PNG Home Connection increased to 4.88 lakh, with addition of 9,223 new connection. Industrial & Commercial connection increased to 5,065, with addition of 99 new Industrial and Commercial connection. The company completed 2,873 inch km of steel pipeline in New GA allotted in 9th and 10th round.
Commenting on Q1 results, Gautam Adani, the chairman of Adani Group, has said that: "The intent of both the Adani Group and Total Energies is to rapidly establish an energy portfolio that continues to get greener - and gas is a critical component of this mix. ATGL's strong performance is yet again a manifestation of this intent and we are strongly positioned to continue to significantly expand our CGD networks across all geographical areas. We realize that the on-ground situation has been challenging and, in this context, I am proud of the resilience demonstrated by our frontline employees. Each of them truly represents our joint belief in nation building."
Adani Total Gas is one of India's leading private players in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to Industrial, Commercial, Domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector.
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Shares of Adani Total Gas fell 1.27% to Rs 891 on BSE. The stock has traded in the range of Rs 891 to Rs 915 so far.
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